Tenants can pay their rent in digital currencies through apps or utilizing online platforms. For instance, there is the latest application Livly, which enables an individual to pay his rent in multiple Trading Bitcoin. The app came to be a resident experience forum for apartment communities. The organization behind Livly aims to modify or improve apartment life, being an early Web3 adopter. They are striving for revolutionizing apartment living.
After accepting digital currencies for rental payments, especially Bitcoin payments – the most reputable and valuable cryptocurrency conveniently tradable via Bitcoin Trading Software – and Ethereum – the second most valuable cryptocurrency, Livly will blend the smooth property technology with the most latest blockchain technology to fulfill tenants’ increasing desire for more stretchable and user-friendly rent payment options. Livly pays the landlords in the form of US dollars.
These landlords share that they are actively reviewing belongings with commonly recognized and accepted crypto exchange platforms to make sure complete reliability and security.
Payment Of Rent In The Form Of Cryptocurrencies, Will Users Opt For It?
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The founder of Livly says that we are aiming to offer an additional benefit to the crypto holders that they can now pay their rent and other bills in crypto if they find it more convenient. He further claims that the company is continuously trying to find more and more improved ways for the expansion of facilities of our residents. Besides this, the CEO of Livly expresses that the competitive advantage of Livly is in its growth potential, fulfilling, and going beyond expectations. It has always tried to be at the forefront of pioneering or groundbreaking property technology. It is natural for us to be the first-ever resident mobile phone application to accept cryptocurrencies as rent payments from our residents nationwide.
Livly has integrated with another mobile application that enables landlords to ask for rent in the form of cryptocurrencies. The ManageGo online platform serves as an intermediary party between the building managers or landlords and their tenants or renters. This platform works on the Application Programming Interface (API) of Coinbase. Renters can utilize the application to pay their rent in crypto. ManageGo accepts BTC, Ether, and LTC in the form of rent payments. Using ManageGo, customers can take advantage of real-time exchange rates, while tenants and landlords take advantage of valid conversions.
ManageGo is a company in New York (NY) that has started to utilize digital currencies in its services, providing renters the choice of making rent payments with cryptocurrencies. They express that the firm will not hold crypto rather, they will convert BTC, LTC, or Ether into USD. The platform aims to use Coinbase’s API to achieve real-time currency rates to make sure that both the parties (renters and homeowners) get feasible conversions.
The Vice President (VP) of ManageGo shares that the company found out about this opportunity, and we were sure that we can do it and de-risk it by changing it. ManageGo itself does not deal with properties but serves as a mediator between homeowners and renters. Providing renters the choice of making rent payments with digital currencies (crypto) is another function developed to help support that procedure.
This Concept s Is Gaining Acceptance
Every new platform that opts for accepting digital currencies enhances its lawfulness. Currently, Square merged crypto-related features into their Cash application, which allows users to trade (buying & selling) Bitcoin (BTC). A London-based project, London Block Exchange, is trying to facilitate people to utilize digital currencies for regular transactions by announcing a Visa Debit Card that makes payments in Pounds but charges from an individual’s authorized crypto wallet or digital wallet.
The first-ever transaction in the real estate sector by utilizing the Crypto Myths only was recently performed in Texas, and major retailers are in favor of adopting crypto payment methods, and some of them have started it.
35% of the US population put their homes on rent. In figures, almost 45 million households are rented. However, 11% of all the homes are not yet occupied. The tenants are 90 % higher than the rent payments for the owners of the house, with the landowners paying their mortgage. It indicates that accepted Bitcoin are gaining worldwide recognition and acceptance, and many sectors are using them as a mode of exchange i.e. for trading or making rent payments, etc.